The Scottish Referendum in September 2014 had significant and far-reaching consequences for the political settlement of the United Kingdom. The pressure for more fiscal devolution and other economic powers in the devolved nations has increased demands for greater economic decentralisation in the regions and sub-regions of England. This edited collection constructs an analytical narrative that draws on the evidence of the Scottish experience and expert testimony from the Smith Commission and other policy advisors. Drawing on ideas from fiscal federalism and agglomeration economics, the contributors examine the reorganisation and restructuring of economic territories within the UK.
What is apparent in the UK experience of asymmetrical devolution is that many of the complex issues surrounding decentralised economic governance are not going to be addressed through simple expedients. The pertinent question is what should be the appropriate institutional logics and formal policy bailiwicks underpinning a new constitutional settlement? In other words, what new governmental powers and accompanying forms of governance are needed to achieve a more economically and spatially balanced economy?
Introduction: Devolution and the UK Economy, David Bailey and Leslie Budd / Part I: Lessons from a Post-Referendum Scotland / 1. Where next for Scotland and the UK?, Jim Gallagher / 2. The Aftermath of the Scottish Referendum: A New Fiscal Settlement for the UK?, David Bell / 3. Local Tax Reform in Scotland: Fiscal Decentralisation or Political Solution?, Kenneth Gibb and Linda Christie / 4. Questions of Social Justice and Social Welfare in Post-Independence Referendum Scotland?, Gerry Mooney / Part II: Lagging or Leading in the Rest of the UK / 5. Economic Challenges and Opportunities of Devolved Corporate Taxation In Northern Ireland, Leslie Budd / 6. Commanding economic heights? The effects of constitutional uncertainty on Wales’ fiscal future, Rebecca Rumbul / 7. Securing Economic and Social Success: The Local Double Dividend, Neil McInroy and Mathew Jackson / 8. Beyond ‘Localism’? Place-Based Industrial and Regional Policy and the ‘Missing Space’ in England, David Bailey, Paul Hildreth and Lisa De Propris / 9. Prospects for devolution to England’s small and medium cities, Zach Wilcox / 10. City Dealing in Wales and Scotland: Examining the institutional contexts and asymmetric arrangements for policymaking, David Waite / Notes on Contributors / Index
David Bailey is Professor of Industry at Aston Business School, UK.
Leslie Budd is Reader in Social Enterprise at the Open University, UK.
In normal times, a book on local economics in the United Kingdom edited by two business professors would pass unnoticed. But these are not normal times, and the issue of whether British territorial subunits can prosper on their own has taken on vital importance. The volume sets forth some clear and convincing findings on the matter.